Premier African Minerals Ltd (AIM:PREM) has topped up its coffers with another £610,000 placing as it continues to work on optimising the pilot plant at its Zulu lithium and tantalum project in Zimbabwe.
Having completed a £1.76mln placing earlier this week, the company said it received further interest from City institutions and so issued the extra shares at the same issue price of 0.925p apiece.
One of those contributing was George Roach, the company’s chief executive, who participated in a subscription of £110,000, with his stake in the company now 7.1%.
The company said it has also today appointed CMC Markets PLC (LSE:CMCX), which carried out both fundraising rounds, as joint broker.
Roach said earlier this week that with mining operations progressing well and the Zulu plant now producing concentrate from both the spodumene and mica floatation circuits, optimisation work to achieve nameplate throughput is the chief focus at the site.